Axelar Launches Interchain Token Service to Improve Interoperability, with SushiSwap Adopting

Cross-chain interoperability protocol Axelar announced the launch of Interchain Token Service, which aims to enhance the interoperability of ERC-20 tokens across EVM compatible chains.

The service is a product suite to mint and manage Interchain Tokens, which provide tokens cross-chain fungibility and custom functionality. Tokens using Interchain Token can avoid security risks and compatibility issues brought by the bridged token versions.

According to Axelar, SushiSwap has adopted Interchain Token to facilitate seamless interaction of $SUSHI across multiple chains. SushiSwap CEO Jared Grey said, "Axelar's Interchain Token Service unlocks a more seamless, interchain experience for Sushi users. Currently, there are many bridged versions of $SUSHI that lack fungibility and carry bridge risk. With Interchain Tokens, Sushi can achieve true cross-chain interoperability, simply and securely."